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July 11, 2023

Texas Legislature Reaches Property Tax Deal With Some Relief For CRE

Join Us At POST Houston For Our Annual A&D Event Aug. 17

Texas legislative leaders announced that the two chambers struck a deal on property tax relief Monday following two sessions of deadlock.

Texas Legislature Reaches Property Tax Deal With Some Relief For CRE

The package agreed to by the state House and Senate on Monday will compress school property tax rates for all homeowners and business properties, according to a joint statement from Lt. Gov. Dan Patrick and Speaker Dade Phelan. The state will…

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EXCLUSIVE: New Colliers Houston President On Taking The Reins, Being Ready To ‘Ebb And Flow With The Market’

Colliers Houston has a new president for the first time in 14 years.

In an interview with Bisnow Friday, his first since taking on the role, Danny Rice said he is ready to guide the brokerage through a tumultuous market that has seen transaction activity — the lifeblood of the business — plummet.

EXCLUSIVE: New Colliers Houston President On Taking The Reins, Being Ready To ‘Ebb And Flow With The Market’

Rice moved with his family from Florida to Sugar Land about a month ago before starting his post as the top executive in Colliers' Houston office last week, he said.“It's such a great community,” Rice said. “We've been welcomed with open arms, it feels like the Southern hospitality…

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Inside The Growing Real Estate Asset Class That's A Favorite Of Bill Gates, The Mormon Church

A series of unknowns looms over commercial real estate, with uncertainty sidelining many investors and motivating a small but growing number to cut their losses and bet on American farmland, an asset that remains in high demand even as prices soar.

Farmland is known for its historically strong returns, low volatility and ability to act as an inflation hedge. That gives the asset a relative stability that is a big draw for CRE investors, especially in an era when interest rate hikes are decimating profits, said Carter Malloy, founder and CEO of farmland investment platform AcreTrader.

Inside The Growing Real Estate Asset Class That's A Favorite Of Bill Gates, The Mormon Church

“We are seeing a lot of interest from those more traditional real estate types of folks,” Malloy said. “In commercial real estate, you’ll have plenty of people who show up and say, ‘I doubled my money last year,’ and plenty who will say, ‘I lost it all.’ That’s a rarity…

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This Week's Houston Deal Sheet

This Week's Houston Deal Sheet  

Hines and Cerberus Capital Management announced 153K SF of lease expansions at JPMorgan Chase Tower, a 75-floor, 1.65M SF office tower at 600 Travis St. in Houston. The building is 84% occupied.

These are the tenant expansions: JPMorgan Chase Bank expanded to 315K SF from 256K SF. KKR expanded to 52K SF from 23K SF and was represented by Jon Lee of CBRE. Bradley Arant Boult Cummings LLP expanded to 45K SF from 22K SF, extended its lease term and was represented…

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